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Revenue Recognition
6 Months Ended
Mar. 31, 2024
Revenue from Contract with Customer [Abstract]  
Revenue Recognition

3. Revenue Recognition

Substantially all of our revenue is derived through the sale of merchandise at the point-of-sale. Revenue is recognized net of estimated sales returns and sales taxes. We estimate sales returns based on historical data.

Changes to our contract liabilities, which are included in accrued liabilities in our condensed consolidated balance sheets, for the periods were as follows (in thousands):

 

 

 

 

 

 

Six Months Ended March 31,

 

 

 

 

 

 

 

2024

 

 

2023

 

Beginning Balance

 

 

 

 

 

$

14,038

 

 

$

13,460

 

Loyalty points and gift cards issued but not redeemed, net of estimated breakage

 

 

8,700

 

 

 

9,327

 

Revenue recognized from beginning liability

 

 

(9,997

)

 

 

(8,370

)

Ending Balance

 

 

 

 

 

$

12,741

 

 

$

14,417

 

See Note 11, Segment Reporting, for additional information regarding the disaggregation of our sales revenue.